Canadian flax acres dropped last year, but yields rebounded nicely in many areas.
Chuck Penner with LeftField Commodity Research says we saw lower acres despite new crop bids of $24-25 a bushel.
He says that while acreage was down, yields rebounded allowing supplies to recover to where we were before the drought, but certainly not a big supply situation.
Unfortunately, flax exports this year have not been encouraging.
Canada has three key buyers of flax that take about a third of the crop each, the U-S, China and the E.U.
In 2022, Canada shipped some containers into China and the EU, but most of our flax exports this year went to the U-S, which has a limited market.
Penner points out that Russia and Kzachstan have been boosting their flax production which was having an impact for some sale opportunities.
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